Stonebrook Private Inc. Purchases 379 Shares of Alphabet Inc. (NASDAQ:GOOG)

Stonebrook Private Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,110 shares of the information services provider’s stock after buying an additional 379 shares during the quarter. Stonebrook Private Inc.’s holdings in Alphabet were worth $1,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. bought a new stake in Alphabet during the fourth quarter worth $27,000. LSV Asset Management bought a new position in shares of Alphabet in the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet in the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the fourth quarter valued at about $43,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Finally, Scotiabank lowered their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.94.

Alphabet Stock Up 1.2%

Shares of NASDAQ GOOG opened at $167.43 on Friday. The company has a 50 day simple moving average of $160.19 and a 200 day simple moving average of $176.75. The firm has a market cap of $2.03 trillion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $1.89 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,824 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,815,948.32. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,324 shares of company stock worth $30,153,353. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.